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August 27, 2018

Dillon Eustace advises Deutsche Bank on its financing of the recent Seniors Money Ireland MBO

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Dillon Eustace acted as advisors to Deutsche Bank AG London Branch who provided the financing for the recent management buy-out of Seniors Money Ireland - the Seniors Money group, which includes a retail credit firm regulated by the Central Bank of Ireland, is a provider of lifetime loans. 

The Irish-based management team of Seniors Money Ireland has bought full control of its Irish and Spanish units from Seniors Money International which is owned by majority backer Quadrant Private Equity and private New Zealand investors. Seniors Money Ireland is a specialist lender providing lifetime mortgages to those aged over 60 intended to help those in their retirement years access equity they have built up in their homes without having to move out, relinquish ownership or make regular payments.  

The transaction was led by Conor Keaveny Partner Banking and Capital Markets supported by Partner John-Hugh Colleran with Regulatory and Compliance advice given by Breeda Cunningham. 

Commenting on the deal Conor Keaveny, Partner Banking and Capital Markets said “we were delighted to have acted for Deutsche Bank AG London Branch, in their funding of the MBO of Seniors Money Ireland.  This deal is a further sign of the growing resurgence and confidence in the Irish economy and the property market in particular and another example of the interest from overseas investors in financing such deals.  Dillon Eustace’s experience in banking and regulatory matters and our reputation both domestically and internationally means we were ideally suited to giving our client the best legal advice necessary to execute the deal. We wish Seniors Money Ireland every success as they move forward with their business.”